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Thursday, 23 September 2021 20:39

Chip Shortage’s Cost Doubles to $210 Billion

Written by Paul A. Eisenstein, The Detroit Bureau

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The financial impact of the semiconductor shortage continues to grow and now stands at an estimated $210 billion dollars in lost automotive revenues, according to a new study.

That’s nearly twice the $110 billion financial hit initially forecast by AlixPartners in May and reflects the increasing likelihood automakers will continue struggling to find the chips they need through at least the early part of 2022.

 

Industry leaders had been hoping the issue would be resolved by this autumn. The continuing shortages will impact car buyers and carmakers alike, experts warn.

 

To read more, see The Detroit Bureau.